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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something representative barber says he still supports the second mainedment. >> i feel very strongly that the second amendment should be protected and the supreme court has ruled and there's no question it is a right that all americans have a right to bear arms or have a rifle for that matter. but the issue of the magazines which were used in the shooting in tucson in january of 2011 that's one that we need to take a hard look at. the shooter in our case had 30 bullets in the magazine one more in the chamber in less than 45 seconds 19 people were down and 6 were killed. i saw my boss shot through the head i saw
he wants to conduct those talks separately from the gop to raise the debt ceiling. he hopes by doing so he can avert a first ever national default. >> kelly wright live in washington. thank you. >>> it is time to take a look at who is talking. another big battle on capitol hill of course. the gun control debate. joe biden announced his task force regulations. we are hearing from one congressman who has a personal connection to this. >> despite the mash shoot something...
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they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid
they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the...
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker and his aides are telling us that they really mean it this time. that there has to be a dollar of spending cuts for every dollar that the u.s. agrees to raise the debt limit. and that they would even go for a two or three-month extension as they try to work on a more global discussion of cutting spending. but even if there's an extension, it has to go point by point. the other thing i want to mention, suzanne, which i thought was really interesting, after covering the white house under george bush, that last question about the fac
regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker...
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found it. we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no gr
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan.
. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have...
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing. you have new members of congress willing to stand up and saying let's rethink this. let's put america first, not necessarily party politics. i fired the first volley that you would
president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the...
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move the last minute further out. if these guys need three to six months to do it up right and get a compromise. i'm willing to give them four to six months extra time. >> settling a debt ceiling issue is in the interest of the president and of our country. you have today fitch came out and threatened to decrease the credit rating and they are doing it in a way that areckless because you have outside observers looking at us and i want to highlight a point you made earlier which is the fact that all spending bills are in the constitution. we are looki
one of them is the debt ceiling fight. and the final one is the continuing resolution which is the stop gap thing because we haven't had a budget for four years. i agree with you. i think the president has the high ground there. he has a big weapon in his arsenal there. you have to give the president his way on that. >> if you pay the debt but you have to apportion out the money, the term for that is default. >> mark, my basic view is this is going to get done. but i'd like to move...
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you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save the next election. if your conservative philosophy is indeed right, winning will come. joining me now, robert costa, and dave weigel, both of them doing great reporting, i appreciate you being here. robert, i want to start with you, tell me the thinking behind the three-month extension, why three months? >> a lot of it has to do public relations, i think what i heard from the retreat, and members in the room, they want to start to win the pr battle again, to do it they have to take the debt limit off the table, and fight with spending in regard to th
you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save...
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once we are through the debt ceiling what leverage do republicans have? and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove to be brilliant exit prices? no. i bet that this is one of those moments where the world economies are going to be better. i say that because it is the same behavior i've seen over and over and over again. down days are days to buy, not sell. in order to get into this bull market, here is the bottom line, i think this market is simply taking a snooze after a big bull run, but wakes itself up perhaps with my alarm clock and if history serves me right, when stocks awaken they go higher not lower and it is turned out that their evaluations ended up being catalysts galore. bob in florida, bob. >> it is great to talk to you. south florida by way of teaneck, new jersey. i'm calling about
once we are through the debt ceiling what leverage do republicans have? and the last chance to derail the term. i think i know what happens, the same thing that has happened always when we have had so many break outs they are left behind by the wall of worry. ask yourself, do you think that this many analysts could be right? do you think that these companies are going to prove to be brilliant exit prices? no. i bet that this is one of those moments where the world economies are going to be...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his name. let's tell you what drove the markets. mixed day on wall street with s&p and dow closing in the green. all three major indices ending the week higher. industrials and energy were today's top performing sectors while technology was the only sector ending the day lower. and oil ending the week in the green after the international energy agency raised its global oil demand forecast for the whole year. crude's settling the week up 2.1% at $95.56 a barrel and consumer confidence falling for the second month in a row, droppin
debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his...
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president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans to pass a bill extending the debt limit for an additional three months. it's the clearest signs yet republicans have no intention of ever defaulting on the country's debt. in a statement the white house responding, saying, we are encouraged. there are signs congressional republicans may back off their insistence on holding our economy hostage to extract drastic cuts in medicare, education and programs middle class families depend on. the temporary nature of the increase is somewhat troubling. a white house official told nbc news it's a terrible way to run the country. but the aid
president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans...
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i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their frustration 7 years ago, when the folk who is were urging this very action today voted against raising the debt ceiling when george bush was president? where was the great constitutional resolve? >> i don't disagree with ow this. there are politics on both sides. i don't think anyone thinks this is going to pass. let's be clear. but there is growing frustration about the way the republicans are using this to go around the normal committee process -- >> neil: what were they doing seven years ago? were they going around the republican president to get their way? >> no. at the end o
i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their...
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ceiling and your own history with the debt ceiling and doesn't that suggest we're going into a default because no one is talking to each other how to resolve this? >> no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult. >> jon: president obama a little testy there answering a question from cbs news white house correspondent major garrett, formerly of this network. it was mr. obama's final news conference of his first term. so, what did you think, judy, about the questions that the president received? only seven of them for a news conference. the answers went on very long. >> you might even say stonewalling answers, each answer was roughly the equivalent of about seven and a half minutes. no wonder there's no time for follow-ups. look, the white house press corps, how many times do we have to talk about it. other than major garrett, who was a sight to see there, even jake tapper said, oh, yes, major always asks good questions, when he was on fox we didn't call on him much. that's what this is about. the white house press corps has to be
ceiling and your own history with the debt ceiling and doesn't that suggest we're going into a default because no one is talking to each other how to resolve this? >> no, major, i think if you look at the history, getting votes for the debt ceiling is always difficult. >> jon: president obama a little testy there answering a question from cbs news white house correspondent major garrett, formerly of this network. it was mr. obama's final news conference of his first term. so, what...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of...
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the shutdown and the continuing resolution in this totally screwed up washington that we have right now with all these perverse incentives, that actually does represent progress if republicans are now only talking about a government shutdown and not a debt default. >> do you agree with that? >> i mean, not really. i know what you're saying but i don't really think we should give a lot of rewards. we citizens, we the political class, or we the media for different strains of this kind of leverage. i think the problem and it was in a
one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the...
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maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the interview just wrapped. and there is a confidentiality agreement about the show. it won't air until thursday. the plan all along was to use the venue to confess. make an admission about doping in his cycling career. something he's never done before. he's denied it for years and attacked those who accused him of it for years. >> significant development. >> attacked and attacked aggressively. denied allegations so many times. many people who thought there was no way he could tell the truth believed him. the power and passion in which he denied it. now he has admitted to something, now t
maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the...
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in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly frustrated in delays by getting money they need. >> the whole outside of the house was ripped apart with waves. >> the waves washed out 16 years of family mementos from this water front house on new york's long island. >> what you see is exactly how we found it after the hurricane. >> jane long-term says she will -- letterman says she will have to tear down the home she loved. two months after the storm she is still waiting for the insurance payment to get her started. >> this is a shame. it's just a shame that, you know, this had to happen. but the thing to d
in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly...
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ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm we'illing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows
ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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maybe we shouldn't call this the debt ceiling at all. maybe we should change it the do downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >> "outfront" next, a legendary hacker and activist commits suicide and his parents blame the government. >> and the lance armstrong apology tour has officially begun, but is he really coming clean. what he said and did not say today. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. officeyour business needs...k... at prices that keep you...out of the red. this week get a bonus $15 itunes gift card with any qualifying $75 ink purchase. find thousands of big deals now... at officemax. overmany discounts to thine customers! [old english accent] safe driver, multi-car, paid in full -- a most fulsome bounty indeed, lo
maybe we shouldn't call this the debt ceiling at all. maybe we should change it the do downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >> "outfront" next, a legendary hacker and activist commits suicide and his parents blame the government. >> and the lance armstrong apology tour has officially begun, but is he really coming clean. what he said and did not say today. we asked total strangers to watch it for...
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. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i agree. the debt limit should be raised. >> should be raised with spending cuts and policy changes. >> why. >> so we can put our nation on a path to balance. >> why not have the fight on resolution. you're talking about future spending and not threatening the full faith and credit of the u.s. government. >> nobody is threatening the full faith and credit. >> it undermines your argument to have it during the debt ceiling debate. >> we can have this debate right now. we need it for the next month and come together a month from now and figure out where we stand
. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i...
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let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private p
let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress...
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Jan 13, 2013
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obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling and push it off to say, june 30. you can't fight all three at the same time. a., i believe the democrats are as scared of the sequestration as the republicans are. there is nothing you can cut on the debt ceiling you can't cut on the continuing resolution. so i would say, mr. president, we are going to put the debt ceiling off to june 30. let me tell you why. between now and then, we are going on cut $3 trillion, $4 trillion -- whatever it is on the continuing resolution and the sequestration. if you stop us from doing that, you are going to put
obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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there's this one over the debt ceiling. there's a continuing resolution to actually fund the government. then there's sequestration. yesterday politico reporting that house gop members are gearing up for a fight over the debt ceiling, but now you have people like newt gingrich, choice of reason in the wilderness. let's play the sound. he is advocating for them not to fight over this. >> it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. they have much better news to fight over spending. they have a continuing resolution that funds government, which comes up at the end of march, and they have this sequester that automatically cuts spending. >> gingrich isn't saying lay down your arms, but he is saying there are better battles ahead. >> he is saying you're going to lose this debt fight because -- he has said previously that the entire global world of finance is going to come into washington the week before the debt ceiling is hit and they're going to
there's this one over the debt ceiling. there's a continuing resolution to actually fund the government. then there's sequestration. yesterday politico reporting that house gop members are gearing up for a fight over the debt ceiling, but now you have people like newt gingrich, choice of reason in the wilderness. let's play the sound. he is advocating for them not to fight over this. >> it's a threat they can't sustain. no one is going to default. no one is going to allow the united...
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so let's talk with karen finney. who's a columnist for the hill and former dnc communications director. and hadley heath, senior policy analyst at the independent women's forum. hadley, this paul ryan, he went out and met with reporters. republicans are in the retreat down in williamsburg, virginia. maybe they'll use a short term increase in the debt ceiling maybe three months or six months. is that the point? how does that inform you? does that get to the heart of the matter? >> it certainly doesn't get to the heart of the matter.
short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so...
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on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are a couple of things to think about here. i call this plan r for run away. but we know that john boehner often has had trouble with his various plans. plan b most notoriously, getting them approved, accepted and passed by his own house republicans. and cantore made a very declarative statement today. there already immediately were grumblings that some house republicans will go along with this i'm not sure that democrats will, too. it remains to be seen whether, indeed, john boehner and cantore can get passed what they want to do. then again this is just a
on the debt ceiling. not again. and today after months of insisting that the president really did have to negotiate with them on that, republicans gave up. david corn "showdown," the stand off the president faced with republicans. thanks for being here. >> good to be here, rachel. >> eric cantore said, yeah, we're going to give up, but only for three months. what did you make of that? >> i'm the last guy who wants to cause a spike in the vix, but, you know, there are...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...
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Jan 15, 2013
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: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on wo
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its...